In a significant development, Sam Bankman-Fried (SBF), the founder of the now-defunct exchange FTX, has been handed a 25-year prison sentence following his conviction on multiple charges, including fraud and money laundering.

Sam Bankman-Fried sentencing, presided over by Judge Lewis A. Kaplan in Manhattan federal court, brings to a close a case that has shaken the foundations of the digital asset industry.

SBF to Forfeit Over $11B

The sentencing took place amidst a backdrop of high stakes, with Bankman-Fried facing the possibility of a much longer sentence, with prosecutors suggesting up to 110 years behind bars. This verdict follows the turbulent events that led to the sudden downfall of…

Read more on bitcoinnews